SCHERING-PLOUGH ANNOUNCES 75 PERCENT INCREASE IN FOURTH QUARTER PROFITS
Schering-Plough's fourth quarter profits for 2006 rose 75 percent from the same time period in 2005, and its net income for the same period was $182 million, up from $104 million in the fourth quarter of 2005, the company announced.
Fourth quarter sales rose 14 percent to $2.7 billion, excluding sales of cholesterol drugs Zetia and Vytorin, which Schering-Plough co-markets with Merck. Together, global 2006 sales of Zetia and Vytorin reached $1.1 billion for the two companies, up from $755 million in 2005, Schering-Plough said.
Allergy drug Nasonex also had strong global sales, rising 37 percent in the fourth quarter to $253 million, the company said. For the year, Nasonex sales rose 28 percent to $944 million.
Schering-Plough cited expanded approved uses for arthritis treatment Remicade in helping the drug reach $337 million in fourth quarter sales, increasing 34 percent.
While hepatitis C product Peg-Intron sales increased 11 percent over the year, they were down 3 percent in the fourth quarter, the company said. The decline was partially due to a decrease in sales in Japan because of a moderation in new patient enrollments in therapy, according to the company.
For the full year, Schering-Plough's sales rose 11 percent from 2005 to $10.6 billion, the company said.